18 Aug 2025
LEBAS TECHNOLOGIES SDN. BHD. MALAYSIAN BIO-XCELL SDN. BHD. (IN LIQUIDATION)
- Citation
- WA-24C-182-11/2024 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24C-182-11/2024 (Mahkamah Tinggi)
The court held that the Arbitral Tribunal's finding that the performance bond proceeds must be refunded rendered continued retention by the Defendant unconscionable; as a matter of equity the Performance Bond Sum (RM5,346,550.00) is held on constructive trust for the Plaintiff and the Defendant (and its liquidator) is obliged to return the sum with interest; res judicata, estoppel and limitation arguments failed and declaratory relief under s41 was properly granted.